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CBI Signs Deal With Czech ECA

The Central Bank of Iran has reached a deal with the Czech Republic's export credit agency for facilitating and expanding trade ties as well as improving the level of investments.

The agreement was signed between CBI and EGAP on Tuesday at the CBI headquarters in Tehran, the official news website of the central bank reported.

Following concerted efforts between CBI, Ministry of Economic and Finance Affairs and Export Guarantee Fund of Iran, the agreement was officially signed by Hossen Yaqoubi, director general of CBI's International Affairs Department.

The deputy chief executive of EGAP was present at the signing ceremony and represented the Czech export credit agency.

According to the central bank, both sides discussed and made headways in terms of "providing financial resources for the implementation of joint projects between the two nations" that will be realized through finance deals reached between Iranian and Czech banks and with the support of EGAP.

The event was also reportedly attended by the ambassador of the Central European nation to Iran.

EGAP was founded in 1992 as a joint stock company fully owned by the state. The Czech Republic exercises its shareholder rights through the ministries of finance, industry and trade, foreign affairs and agriculture.

In late May, the CEO of EGFI–Iran's ECA– Kamal Seyed Ali, and Dusan Keketi, the head of Slovakia’s EXIMBANKA SR, signed a banking and insurance agreement on sharing their trade database and facilitate cooperation to help improve bilateral ties.